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Showing posts with label swaps rate. Show all posts
Showing posts with label swaps rate. Show all posts

Tuesday, February 2, 2010

Was the Latest Greek Bond Issue Really a Show of Confidence?

Maybe the “successful” Greek Bond issue last week was successful only because it raised 5 billion euros. But the five year issue cost 350 basis points over the risk free mid swaps rate. This compares with 225 points ten months ago. And the question is; who purchased the bonds?